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Basel III- Some Opportunities?

by Véronique Queffélec on novembre 24, 2012


November 23rd, 2012

The reasons why there are Basel III, the Dodd-Frank Act, and debate over separation of commercial and investment banking in Europe is because previous regulations were not effective in dealing with the financial crisis. The rules of Basel III were adopted by global banking regulators in September 2010 and subsequently endorsed by the Group of 20 leading Economies.

Basel III is an international agreement, but implementation is left to the discretion of regulators in each nation. While Obama said in his campaign that he would urge for a “healthier banking system”, the US said it would not meet the January 2013 target date for introducing the rules. [click to continue...]

The French banking reform, Is the Glass-Steagall Act coming back?

by Véronique Queffélec on novembre 17, 2012


November 15th, 2012

The French Government wants to see high-frequency trading activities and speculation in agricultural commodities derivatives separated into strictly-regulated subsidiaries.

Unlike the Liikanen plan, it seems as though the French reform will not be targeting market-making activities.

French FM Moscovici commented the Banking Reform due on 19/12

French Finance Minister Pierre Moscovici, speaking at a conference organized by the AMF (French SEC) [click to continue...]

Greece : Divergent positions of European Leaders August 24th , 2012

by Véronique Queffélec on septembre 2, 2012


Key Summary

1/Athens asks for more time

During his meeting with Eurogroup chairman Juncker on wednesday 22nd, Greek PM Samaras said that Greece will honour its commitments, will seal an austerity package worth €11.7 billion in coming weeks and has widened its privatization agenda. Juncker acknowledged that Greece has undertaken “tremendous efforts”, but insisted that Greece has to take verifiable and credible fiscal measures to close the funding gap and that this was the country’s “last chance”. [click to continue...]

France update August 31st , 2012

by Véronique Queffélec on septembre 2, 2012


Key summary

French President Hollande putting the ECB under the spotlight

French President Hollande says he remains supportive of possible intervention by the ECB, and was “simply” asking the ECB to carry out decisions taken by EU leaders at the June 29 Summit, while stressing that it remains up to the ECB to decide how to intervene.

France and Germany, an even closer cooperation.

[click to continue...]

Italy and Eurozone leaders stances

by Véronique Queffélec on juin 17, 2012


June 14th , 2012

Key summary

Italy’s Unsustainable Path

A more prolonged and deep recession than expected.

An unsustainable fiscal path, ratings at risk.

Italy is likely to need external help at some point.

A set of measures aimed at reducing the stock of public debt likely to be welcome by the Eurozone.

Euro Area Leaders : a coalition against Germany ?

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Updates on Europe sovereign debt crisis

by Véronique Queffélec on juin 16, 2012


June 13th , 2012

Key Summary


EU Commission denies plans for capital controls for Greece. EU officials may issue statement on Sunday after Greek election result.


After saying on Monday that Italy might need support, Austrian FM Fekter yesterday stepped back, saying she had no indication Italy planned to apply for aid.


Today the leaders of coalition parties and opposition meet to hammer out a compromise on the planned joint approval of the fiscal compact and the ESM.

Banking union

German officials make clear that a banking union can only come in exchange for a transfer of sovereignty.


Latest Financial Stability Review warns about the potential for an aggravation in the debt crisis.


Calls for urgent solutions for growth to accompany integration.


Open to euro bonds for A rated countries. [click to continue...]